The Republican-controlled House voted 216-212 to pass a budget blueprint for the 2018 fiscal year. The measure will enable the tax legislation, due to be introduced next week, to win congressional approval without any Democratic votes.Click here to download a pdf of this article, Missile.pdf
The House hopes to pass a budget on Thursday and move one step closer to approving a tax plan. If House Republicans can clear a budget resolution already passed by the Senate, they hope to release a tax bill next week and pass it by Thanksgiving.Click here to download a pdf of this article, Missile.pdf
“The moment of truth has arrived for secular bond bull market!” DoubleLine Capital Chief Investment Officer Jeffrey Gundlach tweeted Tuesday, just before yields touched session highs. “Need to start rallying effective immediately or obituaries need to be written.”
Lots of factors go into the decisions but these companies have made a simple calculation: Cheap labor in Mexico -- as much as a $20,000 saving per worker compared with the U.S. -- is enough to offset the higher costs of any tariff imposed by Nafta’s demise. That math shows how Trump’s America First effort to revive manufacturing faces hurdles.
The latest rounds of talks over the 23-year-old trade treaty ended last week, with Mexico and Canada rejecting hard-line U.S. proposals. Negotiations will resume in November but the ministers agreed to put off any resolution until next year.
Business wasn't great during the third quarter, but things should pick up again through the rest of the year, according the latest survey of business economists.
Profits were squeezed, jobs were harder to fill and materials prices rose in the latest quarter, according to a majority of the National Association of Business Economists. But overall, the group expects sales to continue rising in the last three months of the year.
"Senators McCain and Graham are torpedoing the budget by insisting on busting the budget caps for more spending," Paul of Kentucky said on Twitter. He threatened to vote against the budget, which unlocks a fast-track process to pass a tax bill without having to face a Democratic filibuster.
"I don’t know how long it takes to figure out where this guy is coming from," responded Graham of South Carolina. "He is never getting to yes. He’s always got a reason to vote no. This thing about me and McCain is about as disingenuous as you can possibly be."
The Delta House floating production facility about 40 miles (64 kilometers) southeast of Venice, Louisiana, released 7,950 to 9,350 barrels of oil from early Wednesday to Thursday morning, according to closely held operator LLOG Exploration Co. That would make it the largest spill in more than seven years, data from the U.S. Bureau of Safety and Environmental Enforcement show, even though it’s a fraction of the millions of barrels ejected in the 2010 incident.Click here to download a pdf of this article, Missile.pdf
“My best guess is that these soft readings will not persist, and with the ongoing strengthening of labor markets, I expect inflation to move higher next year,” Yellen said Sunday at the Group of Thirty’s Annual International Banking Seminar in Washington.
While the Fed chair said she expects a pickup, she and her colleagues “recognize that this year’s low inflation could reflect something more persistent than is reflected in our baseline projections.”
House Republicans agree with President Donald Trump that they want to cut taxes for the middle class, but who fits that definition is where the consensus stops.
For some GOP members of Congress, a middle income household tops out at $100,000 a year. For others, a family making $400,000 still deserves a break.
Goldman Sachs said Monday that there is a 65 percent chance of an agreement on tax reform coming together next year. That would benefit stocks, the firm said.Click here to download a pdf of this article, Missile.pdf
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